On July 23, United Rentals rose 8.75% in pre-market trading, trading at $1133.17 per share. The surge was driven by a strong Q2 earnings report that comprehensively exceeded market expectations, accompanied by a significant upward revision of full-year revenue guidance.

Specifically, Q2 total revenue grew 12% year-over-year to $4.41 billion, surpassing the consensus estimate of $4.221 billion. Adjusted earnings per share came in at $12.76, representing a 22% year-over-year increase and beating analyst expectations of $11.53 by approximately 10.7%. The company raised its full-year revenue guidance from the prior range of $16.9 billion to $17.4 billion up to $17.5 billion to $17.8 billion, exceeding the FactSet consensus of $17.27 billion.

Strong demand from large-scale construction and industrial projects for equipment rentals underpinned the beat. Notably, multiple investment banks including UBS, Citigroup, Morgan Stanley, and JPMorgan had raised their price targets ahead of the report, reflecting broad institutional optimism toward the company's fundamentals.

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